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Rupee tumbles 14 paise against US dollar

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Dion Global

11 Jan 2017

The Indian rupee declined 14 paise against its US counterpart on Wednesday amid sustained fund outflows by foreign funds and importers due to huge demand for the American currency. Firmness in Indian equity market also failed to boost rupee movement.

At the Interbank Foreign Exchange Market, the local currency was trading down by 14 paise to 68.46 per dollar from a previous close of 68.32 per dollar at 2:35 PM.

Meanwhile, the 30-share Sensex was trading at 27,145.81, up 246.25 points or 0.92 per cent, from previous close on BSE.

Investors also remained focused to President-elect Donald Trump's first news conference who promised of increased infrastructure spending and tax cuts.